Yermakova: I am thinking about redenomination

Nadzezhda Yermakova, the head of the National Bank of Belarus, thinks the denomination of the Belarusian rubles in 2014 makes sense if the inflation rate doesn't exceed the expected 12% in 2013.

"I am thinking about redenomination, but it seems impossible now due to the inflation rate. If we are able to keep the inflation rate at 12% this year, I think redenomination will be feasible," Yermakova said to journalists on Thursday in Minsk, Interfax news agency reports.

It should be reminded that Belarus already uses quadrillions. The proceeds of enterprisers and organisation from sales of goods, work and services were estimated at 1 quadrillion and 46.6 trillion rubles in January-November 2012.